Architectural ServicesPublished by: First Research, Inc. Published: Dec. 17, 2012 - 10 Pages Table of Contents
AbstractBrief Excerpt from Industry Overview Chapter:Companies in this industry plan and design residential, institutional, leisure, and industrial buildings and spaces, as well as landscapes. Prominent firms include AECOM, Skidmore, Owings & Merrill, HDR Inc, Heery International, and Gensler (all based in the US), and East Construction Group (China), Mirvac (Australia), and Stantec Architecture (Canada). Internationally the market for architectural services has been sluggish due to the global economic downturn, but a 3.6 percent compound annual growth rate is expected through 2015, according to a report by TransWorldNews. Many large US firms have international offices. The US architecture industry includes about 30,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $30 billion. High growth is forecast for the next two years. Key growth drivers include increased construction activity. COMPETITIVE LANDSCAPE Demand for architects' services depends heavily on the volume of residential and commercial construction. Because most costs are fixed, profitability depends on a constant inflow of work. Architectural firms are often small because there are few economies of scale in the industry: architectural design costs for a large company are typically greater than for a small company. The industry is highly fragmented: the 50 largest firms account for less than 20 percent of revenue. PRODUCTS, OPERATIONS & TECHNOLOGY Architects prepare detailed plans that can be used by construction companies to build or modify various types of structures. Most architectural work has both an aesthetic and an engineering component. About 65 percent... Get full details about this report >> |
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